Your vehicle donations to an IRS approved 501(c)(3) charity is tax deductible as follows:
For vehicles sold for under $500, you can claim the fair market value up to $500.00 without any additional paperwork.
The preliminary tax receipt will be mailed after the vehicle has been confirmed picked up.
If the gross proceeds for the sale of your donated vehicle exceeds $500.00, your deduction will be limited to the actual sale price.
We will provide you with a receipt stating the final sales price of your vehicle within 30 days of its sale.
We do all we can to maximize the selling price of your car, this way you can get a larger tax write off and more funds go back to our veterans.
Always check with your tax advisor or accountant to determine the amount of your benefit.
Here is a link to IRS Publication 526
If you have questions or to donate, please call our helpful vehicle donation specialists for fast assistance at (866) 934-8757